Saint Augustine's University, in North Carolina, is in talks with Saint Paul's College, in Virginia, to acquire the institution, The News & Observer  reported. Both institutions are historically black and were founded by the Episcopal Church. Saint Paul's lost its accreditation in June,  setting off concerns about the viability of the institution without its students being eligible for federal aid. (Accreditation has been restored by a court injunction.) If Saint Paul's became a part of Saint Augustine's, the former could operate under the accreditation of the latter.